Ryohin Keikaku Co., the operator of Muji retail stores, reported a 28% year-on-year increase in consolidated revenue for the fiscal year ending December 2025, driven by strong international expansion and sustained domestic demand.
- Ryohin Keikaku Co. reported ¥98.7 billion in consolidated revenue for FY2025, a 28% year-on-year increase.
- Overseas sales rose 37% and now represent 41% of total revenue.
- China saw a 52% sales increase, led by new store launches in Shanghai, Chengdu, and Hangzhou.
- Domestic Japan sales grew 12%, supported by flagship locations like Muji 500 at Mitaka Station.
- Operating margin improved to 11.3% from 9.6% in FY2024.
- Ryohin Keikaku’s stock rose 14% following the earnings release.
Ryohin Keikaku Co., the parent company behind the Muji brand, delivered a significant earnings beat in its latest financial report, with consolidated revenue reaching ¥98.7 billion ($662 million) for the fiscal year ending December 2025. This marks a 28% increase compared to the prior year’s ¥77.1 billion, underscoring robust performance across both domestic and international markets. The growth was fueled by a 37% rise in overseas sales, which now account for 41% of total revenue, up from 34% in 2024. Key expansion occurred in China, where new store openings in Shanghai, Chengdu, and Hangzhou contributed to a 52% sales increase in the region. The United States and Southeast Asia also reported double-digit growth, with Singapore and Thailand each seeing sales climb by over 25%. Domestically, Japan’s retail segment recorded a 12% sales increase, supported by renewed customer engagement at flagship locations like the Muji 500 store within JR East’s Mitaka Station complex. The company attributed this momentum to product innovation, including new eco-friendly packaging and a refreshed line of home essentials. The strong results prompted a 14% surge in Ryohin Keikaku’s share price on the Tokyo Stock Exchange, with investors highlighting the company’s successful strategy of balancing minimalist branding with global scalability. Analysts noted that the company’s operating margin expanded to 11.3%, up from 9.6% the previous year, reflecting improved cost management and supply chain efficiency.